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Margin erosion hurts Hochschild Mining

Latin American silver producer Hochschild Mining ( [url=http://www.proactiveinvestors.co.uk/chart.asp?HOC new=true]LSE: HOC[/url] ) fell 25% after warning that gross margins and attributable profit would be impacted in 2008 due to a number of factors at its six operating mines including lower grades, a weak US dollar and higher depreciation charges as it shifts production from older to newer mines.

Hochschild produced 25.667 million silver equivalent ounces (silver-gold ratio 60:1) in 2007, slightly below expectations of 26 million ounces, but reiterated its target of reaching 50 million silver equivalent ounces by 2011.

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Latin American silver producer Hochschild Mining fell 25% after warning that gross margins and attributable profit would be impacted in 2008 due to a number of factors at its six operating mines including lower grades, a weak US dollar and higher depreciation charges as it shifts production from older to newer mines.

Hochschild produced 25.667 million silver equivalent ounces (silver-gold ratio 60:1) in 2007, slightly below expectations of 26 million ounces, but reiterated its target of reaching 50 million silver equivalent ounces by 2011.

Quick facts: Hochschild Mining Plc

Price: 188.3 GBX

LSE:HOC
Market: LSE
Market Cap: £973.88 m
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